Bulgaria’s Central Bank Eases Company Requirements

Bulgaria’s National Bank (BNB) eases the rules under which companies report financial data.

As of April this year the companies will have to file three-month reports on their financial credit, only if the loans exceed BGN 500 000, or their equivalent. The change will affect around 6000 companies.

The new Ordinance No. 27 for the statistics of the payment balance, international investment position and the securities statistics is part of the European requirements and will alleviate the regulations on the legal entities and the sole traders.

The old BNB regulation required that each trimester the companies had to report to the bank if they drew loans was equal to or more than BGN 50 000, or their equivalent.